May 2010 Market Update Sumter, South Carolina

By
Real Estate Agent with AgentOwned Realty, Heritage Group, Inc.
Market Summary Thru May 31, 2010
 

Market Statistic

April 2010

May 2010 

Trend

Median Price of Homes Sold

$129,950

$138,626 

+

Average Price of Home Sold

$123,358

$147,514

+

Least Expensive Home Sold

$10,500

$8,000 

+

Most Expensive Home Sold    

$335,000

 $391,250

+

Price/ Sq. Ft.

$71.22

 $74.09

+

Average Days of Market (DOM)

145

 146

+

Total Active Inventory

1444

 1477

+

Median Home Size

1606

 1817

+

Median Number of Bedrooms

3

3

 

Median Number of Bathrooms

2

2

 

 

May was a busy month for closing transactions in Sumter, South Carolina.  While seeing 84 properties sell in Sumter County, we saw the pendings fall from 194 the end of April to 174 the end of May.  We are still seeing buyers in the market, but we are also receiving lots and I mean LOTS of phone calls for rentals.  Many potential home buyers in Sumter County, still qualify for the First Time Tax Credit.  Be sure and check it out!  
 
In May Sumter county had 86 units close, down 2 units from April.  June 30th is the closing deadline for the tax credit and many homes will be closed in June so the buyers can take advantage of the credit. 
 
 
The year to date closings in Sumter County is slightly above the 2009 numbers.  I expect to see the year to date number gain in May, but after May, we will have to watch and wait due to the tax credit ending for many.  
 
Sumter Units sold YTD
 
 
Days on Market for Sumter County, South Carolina increased slightly for May.  Sumter Counties year to date numbers are staying very close to 145 though.  
 
 
Days on Market Sumter, SC
 
   
Listings per month decreased in May to 170 from 190 in April.  2009 saw an increase in listings in June, but this wasn't so in prior years.  I expect listings to be lower as many sellers pushed to get their homes on the market so buyers could use the tax credit to purchase.  
 
Listings per Month Sumter County
  
 
Listings year to date are ahead of 2009.  The trend of 2010 is following closely with 2009, and I expect the number of listings to follow this way throughout the year.       
 
listing year to date
 
 
The total number of listings available increased from April to May.   Considering the trend of the increase in listings in May, I would expect to see the number of active listings increase in May and June.
 
Active Listings Sumter SC
 
The median home price decreased from April to May, the mix of properties sold in May resulted in an increase in the average home price, $/square foot and square footage.   These statistics show a very strong tendancy to move together.
Median Home Prices Sumter, SC
The average $ per square foot increased in May.  We see a tendency for this to follow along with the median and average price of the homes for the month.   
 
Average $/sq ft
 
As I recommend every month, please consult a local Realtor® about the local market.  Every real estate market is local.  There is no National rules that every market in the United States follows when it comes to the ups and downs.  Sumter county is much different than Atlanta, Las Vegas, San Antonio or Florida.   
 
I hope you find this real estate market report for Sumter County, SC informative.  If you have any suggestions or questions, please email me at kim@agentownedrealty.com and I will help you in any way possible. 
 
Kim Peasley-Parker
Realtors®/Shareholder
AgentOwned Realty,
Heritage Group, Inc.
Sumter, SC
Cell 803-840-7519
Serving all of Sumter County including Sumter, Dalzell, and Shaw Air Force Base area
 
Copyright, Kim Peasley-ParkerJune 2010
 
 

 

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Information and Content in this blog is original to Kim Peasley-Parker unless otherwise stated.

Kim Peasley-Parker, Sumter Real Estate

 

 

Kim Peasley-Parker

Realtor (R) /Shareholder

AgentOwned Realty Company

Heritage Group, Inc.

Cell 803-840-7519

Email: kim@agentownedrealty.com

 

 

 

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Rainmaker
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Anthony Stokes-Pereira
Better Homes and Gardens Rand Realty - Nanuet, NY
Realtor

A very detailed presentation on activity in your market area!

Jun 10, 2010 04:18 AM #1
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Kim Peasley-Parker

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